Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

GBP/USD At Two Month High On Positive UK Data

Published 08/16/2013, 03:31 AM
Updated 07/09/2023, 06:32 AM
GBP/USD Open 1.5637 High 1.5653 Low 1.5503 Close 1.5634

On Thursday Pound/Dollar continued increasing with 150 pips. The Cable appreciated from 1.5503 to 1.5653 yesterday, in line with the positive money flow sentiment at around +23%, closing the day at 1.5634. Today the British Pound trading quietly, with movements at the upper end of yesterday's range for now.

On the 1 hour chart the upward channel has resumed, while on the 3 hour chart quotes are moving within wide trading scope. First resistance is yesterday's peak at 1.5653. Break above it should extend the bullish movement further towards 1.5776. The nearest support level is yesterday's bottom at 1.5503. Going below it should extend British Pound's reduction further down towards next downward objective 1.5380.

There are no major economic events for UK today.

Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5653 1.5776 1.5900
Technical support levels: 1.5503 1.5380 1.5247

Already made +8 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5627 SL 1.5601 TP 1.5687, exit sent at 8:28 GMT+1.
Today so far +52, yesterday +88, as shown at our web site.


<span class=GBP/USD Chart" title="GBP/USD Chart">

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.